ESG performance, financing constraints, and workplace health investment: evidence from Chinese biopharmaceutical enterprises

ESG performance effectively promotes workplace health investment by alleviating financing constraints, providing empirical support for integrating occupational health promotion into corporate sustainability strategies. Theoretically, this study bridges corporate finance and occupational health research by revealing the transmission mechanism of "ESG → financing constraint alleviation → workplace health expenditure." Practically, the findings suggest that ESG improvement can serve as a market-based lever for promoting organizational investment in employee health programs.